Riverlane secures £58.8m in Series C funding to expand quantum error correction operations.
The Series C round was led by Planet First Partners to support scaling and technological roadmaps.
Riverlane develops quantum error correction technology designed to eliminate system errors in quantum computers. The firm builds scalable decoder solutions compatible with all major qubit types.
Cambridge-based quantum technology developer Riverlane has raised £58.8m in a Series C financing round. The investment was led by Planet First Partners, with contributions from ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners, the National Security Strategic Investment Fund, and Altair. The capital will be deployed to expand operations and accelerate the delivery of the company roadmap.
From the founder
"Quantum error correction is the critical enabler for the industry’s next huge wave of progress, from today’s small error-prone machines to large and reliable quantum computers that will start a new age of human progress as significant as the digital revolution."
Steve Brierley
Founder & CEO at Riverlane
Investor perspective
"We invest in companies with the potential to have a transformative impact on society and the environment. Riverlane’s focus on quantum error correction, coupled with its collaboration with quantum computer makers worldwide, can accelerate the global market and enable new quantum computing applications that can substantially contribute to solving social and environmental issues."
Nathan Medlock
Managing Partner, Planet First Partners
Use of funds
- 01Scale operations
Investors
Nathan Medlock
Planet First Partners
ETF Partners
EDBI
Cambridge Innovation Capital
Hermann Hauser
Amadeus Capital Partners
National Security Strategic Investment Fund
Altair
Categories
About the company
Riverlane
Riverlane builds quantum error correction technology to remove hardware errors.